CuDeco : New General Manager appointed for Rocklands

ABN 14 000 317 251

MARKET RELEASE 20 December 2017

COMPANY UPDATE

New General Manager appointed for Rocklands

Queensland copper producer CuDeco Limited (ASX: CDU) announced today the appointment of a new General Manager for its Rocklands Copper Mine, with the goal of driving its Cloncurry mine towards consistent nameplate production.

Effective November 30, experienced mine manager Mr Adam Norton has joined CuDeco after a successful career in the resource sector spanning more than two decades. This has included recently managing the Osborne copper-gold mine, one of Australia's largest metalliferous mines, which is also located near Cloncurry.

Since commencing his mining career as a cadet surveyor in 1989, Mr Norton has served in a range of roles including senior mine surveyor, mine manager and SSE at various mines in Australia and across a range of commodities, including coal, copper and gold. Among his extensive qualifications are studies in risk management, surface extraction and occupational health and safety, giving him the necessary skills to ensure Rocklands operations reflect industry best practice.

Welcoming the appointment, CuDeco's CEO, Mr Gongyang Jiang said Mr Norton's track record of success and proven managerial expertise would be an enormous asset to the Company.

"Adam's experience at the Osborne mine and other projects has shown his ability to deliver successful outcomes, while he also has excellent local knowledge of the Cloncurry area. It is these attributes, together with his experience in managing staff and strong relationships with stakeholders including the Government, which will stand him in good stead at Rocklands," Mr Jiang said.

"I would also like to thank Adam's predecessor, Joe Skrypniuk, for his important contribution during a critical production phase for the Company."

Mr Norton said he would focus on safe cost-effective operation by working with employees, contractors and the community to ensure continuous improvement.

"I believe Rocklands has significant potential now that the challenges of the start-up phase are behind it. Transforming the challenges into opportunities will provide the platform for safe cost-effective production for years to come," he said.

Located around 17km west of the north-western Queensland township of Cloncurry, the mine site employs approximately 330 personnel, a majority of which are local employees.

"Having the right team in place is essential towards maximising productivity while ensuring the health and safety of our workforce. Adam's appointment is part of the process of change at CuDeco, which is squarely focused on delivering increased value for shareholders," Mr Jiang said.

ENDS

Head Office	Cloncurry Operations
Suite 11A, Level 11, 100 Edward Street, Brisbane, 4000 Australia	Corella Park Road, Cloncurry Queensland 4824 Australia
Tel.[phone]	P.O. Box 530, Cloncurry, QLD 4824 Tel.[phone]
[e-mail] www.cudeco.com.au	[e-mail] www.cudeco.com.au